Professional Investment Advisory Services (PIAS) planner numbers in Singapore have reached the 300 milestone.
PIAS is part of Australia's largest advisory network Professional Investment Services, which also has offshore operations in Malaysia, China, Hong Kong, New Zealand and Canada.
"When we acquired the financial advice operations of the Insurance Corporation of Singapore in late 2001 we were the first Australian financial advice group to look seriously about establishing operations in Asia," PIS managing director and PIAS chairman Grahame Evans said.
"We were always set to grow PIS beyond Australia's boundaries, it was just a matter of choosing international markets which showed the most promise."
PIAS chose Singapore because it is in Australia's time zone, has a similar regulatory regime, has a compulsory retirement savings scheme and is a gateway to other Asian markets.
PIS recently announced plans to take advantage of major changes in the Malaysian financial services industry by expanding its business in the nation.
Malaysia has a population of 26.7 million and an expanding RM1 billion insurance industry.
The Malaysian Government caps foreign ownership of local companies at 30 per cent, but PIS managing director Evans believed the restriction would soon be lifted.
PIS has 989 branches Australia-wide with 1329 authorised representatives and $13 billion in funds under advice.
